API: State of U.S. energy continues to grow, create jobs

Natural gas and oil are making the impossible possible. Not only has the industry knocked down walls of decades past, but it is building the American future and modern quality of life. American Petroleum Institute (API) President and CEO Jack Gerard considers the industry and its workforce the reason jobs are growing, emissions are dropping and the nation’s economy is booming, calling these changes “transformational progress” and noting that industrial innovation is helping this progress move along quicker, cleaner and safer.

“Consider what we previously thought impossible,” Gerard said. “We’ve taken the nation from energy scarcity to energy abundance, from making products abroad to a rebirth of U.S. manufacturing.”

With bounding production, jobs in the industry are continuing to rise, adding to the stability of the U.S. economy. In 2017, the U.S. added more than 170,000 manufacturing jobs, Gerard said.

“The energy industry offers life-changing careers that lead to thriving communities and help to address broader societal challenges,” he explained to attendees of the 2018 State of American Energy luncheon. By 2035, API projects there will be 1.9 million new job opportunities in the oil and natural gas and petrochemical industries. Minorities including women, African American and Hispanic workers will make up almost 40 percent of those positions.

Millennials in particular, who currently comprise one-third of the industry workforce, will swell to 41 percent of the oil and natural gas industry by 2025.

The industry supports the national economy and local communities through these job opportunities, Gerard added. By offering careers where the average pay is $50,000 higher than the average American salary, the industry helps local economies flourish.

Communities also benefit from oil and natural gas through the involvement of companies and employees who live locally and promote education, charitable giving and involvement. Gerard cited the 2017 hurricane season’s major storms and the resilience of the energy industry and communities as one example of industry and community coming together.

Fewer emissions, more savings

More than 10 million men and women have jobs supported by the oil and natural gas industry. With advances in infrared devices, fiber optics and drones, along with 3-D mapping and sensor technology, Gerard said the industry powers positive change.

“Industry innovation and technological breakthroughs are why the U.S. is the world’s largest producer of natural gas, oil and refined products,” he added. U.S. CO2 emissions are near 25-year lows, and for the past decade, CO2 emissions have fallen in 43 states. Gerard also reported U.S. key air pollutants have declined by 73 percent since 1970, creating improvements in health and environment.

As those key air pollutants have declined, methane emissions are also declining, and the oil and natural gas industry is working to continue that downward trend. In December 2017, the API and major natural gas producers started the Environmental Partnership to continue reducing methane and volatile organic compound (VOC) emissions due to industry production.

Because of new resources and innovations, the American people have been saving money with lower energy costs. Gerard reported that in 2015, lower energy costs led to a savings of $1,337 for the average American household. Gasoline costs at the pump were down also, with AAA reporting motorists saving close to $550 more than in 2014.

Looking to the future

Gerard expressed API’s appreciation to the Trump administration and Congress for recognizing the necessity and benefits of having an abundance of American energy. He added the industry looks forward to working with the administration and Congress on policies regarding domestic energy production, infrastructure development and global trade.

To keep on progressing, Gerard emphasized focusing on solutions for the American people and working as a team regardless of political affiliation, calling energy a nonpartisan issue.

“Meeting global energy demands requires constant innovation, unconventional creativity and a commitment not to be satisfied with the status quo or to accept what others consider impossible today,” he concluded. “We hope you’ll join us in this commitment.”